UBS | We believe the new proposed IPO process could improve liquidity and investor protection and is therefore a structural positive. IPO resumption would also mean some of the corporate would consider raising equity instead of bond and help channel some of the liquidity away from the bond market.
Marc Chandler via Caixin | A mountain peak is easier to see when viewed from a valley than from the summit. Similarly, it may be easier to understand the changes in China’s currency regime if we take a step back and try to look at the big picture: Beijing wants its currency added to the SDR mechanism for status reasons, not to benefit its exports.
UBS | 81 months and 200% higher, this US Equity and Derivatives’ Bull is the third longest since 1932 and surpasses the average of 138%. While age or return alone does not signal The End, increasing volatility, Fed rate hikes, and an M&A boom in its third year have all preceded past tops.
Caixin | The Communist Party’s 18th Central Committee released a proposal for a major economic development plan on October 29 at the end of a four-day plenum, the fifth time the body has met. In the proposal, the party notes that China still has a lot of room to grow, even though it is facing an array of challenges stemming from shifts in the domestic economy and uncertainty abroad.
Nilanjana Sen | With over half the world’s population living in cities, the 21st century has been described as the urban century. It is estimated that 75% of the global population will be living in cities by 2050.
There is a definite clash between investors and economists over the US economy. According to Intermoney’s Spanish analysts, markets are looking for reasons to take apart the thesis about the country’s resilient activity, arguing that moderate growth is insufficient. Then there are the economic purists, including many Fed members, who are confident the US recovery is sustainable.
Benjamin Cole via Historinhas | Motor vehicle sales are booming in the United States, up 10% in the last year, and double since the Great Recession. Thanks to blogger Kevin Erdmann of Idiosyncratic Whisk, we have a better understanding of inflation in the U.S. and the role that ubiquitous local property zoning plays in suffocating supply, and thus boosting price.
The Federal Reserve Board released an updated version of its large-scale model on the US economy that may hold clues into why policy makers pivoted at their meeting earlier this week toward a December interest-rate increase.
UBS | We have long argued that Latin America is in the midst of a long, protracted economic adjustment to the new reality of lower commodity prices — as China’s investment – led growth strategy runs out of steam — and of tighter capital conditions — as investment opportunities into commodities fall and the Fed gears up to raise interest rates.